European Union extends sanctions against Russia for six months

The European Union extended economic sanctions against Russia for six months, press service of the European Council said on Monday.

“On 19 December 2016, the Council prolonged the economic sanctions targeting specific sectors of the Russian economy until 31 July 2017,” the press service reported in the press release.

The economic sanctions prolonged by this decision, in particular, limit access to EU capital markets for certain Russian majors, impose an export and import ban on trade in arms, establish an export ban for dual-use goods and curtail Russia’s access to certain sensitive technologies and services that can be used for oil production and exploration.